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Introduction

Financial planning is the process of meeting your life goals through the proper management of your finances. Life goals can include buying a home, saving for your child's education or planning for retirement.

The financial planning process consists of six steps that help you take a holistic approach to assessing where you are financially. Using these steps, you can work out where you are now, what you may need in the future and what you must do to reach your goals.

The process involves gathering relevant financial information, setting life goals, examining your current financial status and coming up with a strategy or plan for how you can meet your goals given your current situation and future plans.

Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. For example, buying a particular investment product might help you pay off your mortgage faster or it might delay your retirement significantly. By viewing each financial decision as part of a whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes and feel more secure that your goals are on track.

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Why You Need A Financial Plan

Financial planning takes the guesswork out of managing your finances and helps you understand the implications of each financial decision you make. Everyone has different goals, so it's important to have a unique plan that works for you and your financial situation, both now and in the future.

Benefits of Financial Planning

The average Indian faces an uncertain economy and more options for saving and investing than ever before. It's easy to feel overwhelmed or confused, unless you find a way to understand the big picture. We can bring clarity to all your finances and help you develop a strategy, so it's easier to make financial decisions, set long-term and short-term life goals, and stay on track.

Some people decide to do their own financial planning, but you may want to seek help from us if you:

  • Want to better manage your finances, but aren't sure where to start.
  • Don't have time to do your own financial planning
  • Want a professional opinion about the plan you've developed
  • Don't have sufficient expertise in certain areas such as investments, insurance,    taxes or retirement planning
  • Have an immediate need or unexpected life event
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How To Get Started

Figuring out how to pull your finances together and make a sound financial plan can be daunting at first. Here's an overview of how we can help you design a secure financial future, as well as some tips for protecting your money.

SETTING FINANCIAL GOALS:

What's the most expensive thing you'll ever buy in your lifetime? The answer probably isn't a big-ticket item like a new TV, car or home. When you put money into a retirement nest egg, you're "buying" your retirement. Given Social Security's uncertain future, longer life expectancies and decreasing employer contributions, planning for this major expense is more complicated than it was a generation ago.

You can afford to retire comfortably if you develop a solid plan and make smart choices along the way. Regardless of your income, we can help you:

  • Calculate your net worth
  • Avoid financial setbacks
  • Deal with major life changes
  • Avoid debt and credit problems
  • Decide where to put your money

Today, there are an overwhelming number of choices for saving and investing your money, and we can help you navigate those options. Creating a robust, realistic plan will help you stay on track to have the retirement you want.

TIPS FOR SUCCESS:

You are ultimately in charge of your finances, and the results you get from working with us depend on your commitment and understanding of the process. These tips can help you avoid some common mistakes and get the most out of financial planning:

  • Set measurable financial goals
  • Create specific targets for what you want to achieve and when you want to see results. Everyone wants to be "comfortable" in retirement and see their children attend "good" schools—but what do you mean by comfortable and good? Clear goals are easier to aim for and measure.

  • Understand the effects of each financial decision
  • Remember, each piece of your financial life is part of a larger puzzle. For example, an investment decision may have tax consequences that are harmful to your estate plans. Or a decision about your child's education may affect when and how you meet your retirement goals. Your financial decisions are inter-related.

  • Re-evaluate your financial situation periodically
  • Financial planning is a dynamic process. Your financial goals may change over the years due to changes in your lifestyle or circumstances such as an inheritance, marriage, birth, house purchase or change of job status. Revisit and revise your financial plan as time goes by so you stay on track to meet your long-term goals.

  • Start planning as soon as you can
  • The earlier you begin, the more likely you are to achieve your financial goals. By developing good financial planning habits such as saving, budgeting, investing and regularly reviewing your finances, you will be better prepared to handle emergencies and life changes.

  • Be realistic in your expectations
  • Financial planning cannot change your situation overnight—it's a lifelong process. Remember that events beyond your control, such as inflation or changes in the stock market or interest rates, will affect your financial planning results.

  • Get help from a qualified expert
  • Just as you seek a doctor's expert opinion for medical issues, there are times when you need a qualified professional to provide financial planning advice. We can help you on your journey to a healthy financial future.

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Why Finapian

Our focus is on providing quality strategic financial advice to a small, select client base of successful individuals ~ primarily professionals, business owners and wealthy retirees.

We spend a lot of time getting to know our clients and are successful in building sound relationships with them. It is through this process that we learn about their broader goals and aspirations from which we take our cues on how to best manage and structure their financial affairs for the future.

We take great care in developing sound financial strategies. We examine a broad range of investment options and our final recommendations are designed to meet each individual strategy's desired financial outcomes. We take a very personalized approach and, just as no two clients share the same needs, circumstances and lifestyle aspirations, no two strategies that we develop are the same. All are individually tailored to suit each client. Understanding what is important to you and your family allows us to provide advice that is tailored to helping you achieve your goals and objectives. A key component of this advice is investment planning based on our investment philosophy.

INVESTMENT PHILOSOPHY:

Our approach to investment planning is underpinned by a number of key beliefs. We believe that:

  • diversification leads to more consistent outcomes;
  • a disciplined approach underpins successful investing;
  • risk and return are related;
  • investment decisions should largely be undertaken by experts; and
  • portfolios should be properly tailored based on client objectives and risk profile.

These beliefs are used to establish and review our clients’ portfolios.

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